Sunday, July 10, 2011

Remarks by the President on the status of efforts to find a balanced approach to deficit reduction

The White House

Office of the Press Secretary

4:49 P.M. EDT

THE President: In order. Hello, everyone. I just wanted to give you an update on the negotiations of the deficit, we again want to for the past several weeks, and I have had, wish everyone a happy fourth of July.

On the fourth of July weekend, my team and I had a number of discussions with Congressional leaders in both parties. We have made progress, and I believe that greater progress in sight is, but I would like to deceive anyone - we have some real differences to work through.

Now, I have heard reports that there may be some in Congress who default on our debt in the short term, but then want just enough to ensure that America avoids, which can on the way to enter if it want to do our deficit to solve the larger problem. I think not this. I don't think that the American people, which here sent us to avoid difficult problems. That has, in fact, what drives them nuts over Washington, if both parties simply take the path of least resistance. And I want to do this.

I think right now we have a unique opportunity, something big-- our deficit in a way addressing, which forces our Government, within its means to life to do, which relies on a stronger foundation for the future of our economy, and yet we can in the future to invest.

That most of us agree now, that you need to solve our deficit problem really we trillion in savings over the next ten years, and much more in the decades to find the consequences. That said the tax cross-party Commission, which is the amount that I make in the context, I announced a few months ago, and by the same amount submitted while the Republicans in the plans have. And that's the way of the significant progress we should be here want.

To get there, I think we need a balanced approach. We need domestic programs in defense expenditure programs in entitlement programs, and we must take on issues in the code - expenditure on certain tax breaks and deductions for the richest Americans. This order requires both parties to agree on out of our comfort zones, and both parties on real compromise.

I'm willing to do. I think there are enough people in each party, who are willing to do that. What I do know is that we come together in the next two weeks, reach an agreement, which reduced the deficit and confirmed the full confidence and the Government of the United States and the credit of the American people.

That is why, while we today and tomorrow, on I asked discussions, leaders on both sides and both houses of Congress here arrive in the White House on Thursday, so that we can build on the work that has already been done, and in towards a final agreement. It is my hope that leave their ultimatums to the door, which we all have to do our political rhetoric at the door, and we go, everyone what is best for our economy and doing what is best for our people.

And I would like to betonen-- I said at my press conference - this should not come down to the last second. I think it is important for us, the American people and its leaders to show that we find common ground and resolve our problems in a responsible way. We know that it requires up to tough decisions. I think it's better for us this tough decisions sooner rather than later.

That's what the American people that we expect. That's what a healthy economy is going to require. This is the kind of progress, I expect to make. So I promise I keep updated you guys time. All right?

Q a couple of questions?

Q take questions, Mr. President you?

President: I guarantee you, Jay will take a whole bunch of them. (Laugh).

4:54 P.M. EDT STOP

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